Raymond James Financial Services Advisors Inc. Acquires New Position in Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Raymond James Financial Services Advisors Inc. bought a new position in Alpha Metallurgical Resources, Inc. (NYSE:AMR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 729 shares of the energy company’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new position in Alpha Metallurgical Resources during the third quarter worth $41,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Alpha Metallurgical Resources in the third quarter valued at about $132,000. CI Investments Inc. purchased a new stake in shares of Alpha Metallurgical Resources in the third quarter valued at about $188,000. Kingsview Wealth Management LLC purchased a new position in Alpha Metallurgical Resources during the third quarter worth about $210,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Alpha Metallurgical Resources during the third quarter worth about $222,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Trading Down 3.3 %

NYSE AMR opened at $321.99 on Wednesday. The stock has a fifty day simple moving average of $345.10 and a 200-day simple moving average of $318.94. The stock has a market cap of $4.19 billion, a PE ratio of 6.61 and a beta of 1.35. Alpha Metallurgical Resources, Inc. has a twelve month low of $132.72 and a twelve month high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Monday, February 26th. The energy company reported $12.88 earnings per share for the quarter, topping the consensus estimate of $8.78 by $4.10. The company had revenue of $959.90 million during the quarter, compared to analyst estimates of $796.65 million. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. Alpha Metallurgical Resources’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm posted $13.37 earnings per share. Research analysts predict that Alpha Metallurgical Resources, Inc. will post 29.82 EPS for the current year.

Insider Transactions at Alpha Metallurgical Resources

In related news, Director Kenneth S. Courtis sold 22,802 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the transaction, the director now owns 638,234 shares of the company’s stock, valued at approximately $193,263,637.54. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Kenneth S. Courtis sold 22,802 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the sale, the director now directly owns 638,234 shares of the company’s stock, valued at approximately $193,263,637.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David J. Stetson sold 4,502 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $388.26, for a total transaction of $1,747,946.52. Following the completion of the transaction, the director now directly owns 20,104 shares of the company’s stock, valued at approximately $7,805,579.04. The disclosure for this sale can be found here. Insiders sold a total of 153,971 shares of company stock worth $55,479,986 over the last ninety days. Company insiders own 16.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley cut their price target on shares of Alpha Metallurgical Resources from $381.00 to $374.00 and set a “buy” rating for the company in a report on Monday, April 15th.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.